The U.S. virtual visits market size is expected to reach USD 73.9 billion by 2027, expanding at a CAGR of 27.5% over the forecast period, according to a new report by Grand View Research, Inc. The growing adoption of telehealth/virtual visits and introduction of advanced audio-video technologies is positively impacting the growth of the market. Furthermore, increasing usage of smartphones and rising adoption of 4G/5G technology is further bolstering revenue growth over the forecast period.
Based
on service type, the cold and flu management segment dominated the market in
2019. Factors contributing to the increase in demand for virtual clinic visits
are the growing adoption of on-demand virtual care by patients having common
conditions such as cold and influenza, reducing the chance of catching
illnesses, and improved access to specialists. In addition, rising focus on
avoiding the spread of infections that can occur in the waiting rooms of
hospitals and other healthcare facilities is further propelling the market
growth.
In
2019, based on commercial plan type, the self-funded/ASO group plans segment
accounted for the highest revenue share of 33.3% in 2019. This growth is
attributed to the encouragement provided by ASO groups towards adopting
non-physical visits as a part of their coverage to avoid non-emergency
appointments to hospitals and medical facilities during a public health
emergency. In addition, increasing numbers of COVID-19 cases are resulting in
employers shifting toward self-coverage and implementing company benefits plans
that offer price shopping as well as a selection of low-cost healthcare
services for employees to curb the skyrocketing cost of healthcare, is further
fueling the growth.
Based
on the age group, the age 18-34 segment dominated the market in 2019. This
growth can be attributed to the increasing adoption of smartphones by consumers
along with the growing demand to access healthcare as per their terms. Based on
gender, the women segment dominated the market with a revenue share of 66.0% in
2019 owing to the increasing adoption of
technologically advanced and non-physical visit solutions among women due to a
shortage of physicians. In addition, increasing demand for consultation and
support in different areas including reproductive guidance, pre- and post-natal
care is driving the segment growth.
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U.S. Virtual Visits
Market Report Highlights
- Increasing adoption of
telehealth/virtual visits and the introduction of advanced audio-video
technologies is driving the market
- The cold and flu management
segment dominated the market in 2019 owing to the growing adoption of
on-demand virtual care by patients to majorly treat common conditions such
as cold and influenza and reducing the chance of catching illnesses
- The self-funded/ASO group
plans segment dominated the market in 2019 owing to the encouragement
provided by ASO groups towards adopting virtual visits as a part of their
coverage to avoid non-emergency visits to hospitals and medical facilities
during this public health emergency
- The age 18-34 segment
dominated the market with a revenue share of 33.0% in 2019, owing to
increasing adoption of smartphones by consumers along with growing demand
to access healthcare as per their terms
- The women segment dominated
the market with a revenue share of 66.0% in 2019, owing to increasing
adoption of virtual visit solutions among women due to shortage of physicians
and increasing demand for consultation and support in different areas
including reproductive guidance and pre- and post-natal care.
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U.S. Virtual Visits
Market Segmentation
Grand View Research has segmented
the U.S. virtual visits market based on service type, commercial plan type, age
group, and gender:
U.S. Virtual Visits
Service Type (Volume, Million Units; Revenue, USD Million, 2016 - 2027)
- Cold and Flu management
- Allergies
- Urgent Care
- Preventive Care
- Chronic Care management
- Behavioral Health
U.S. Virtual Visits
Commercial Plan Type Outlook (Volume, Million Units; Revenue, USD
Million, 2016 - 2027)
- Small Groups
- Self-funded/ASO group plans
- Medicaid and Medicare
U.S. Virtual Visits
Age Group Outlook (Volume, Million Units; Revenue, USD Million, 2016
- 2027)
- Age 18-34
- Age 35-49
- Age 50-64
- Age 65 and above
U.S. Virtual Visits
Gender Outlook (Volume, Million Units; Revenue, USD Million, 2016 -
2027)
- Male
- Female
List of Key Players
of U.S. Virtual Visits Market
- American Well Corporation
- MDLive, Inc
- Doctor On Demand, Inc
- eVisit Telemedicine Solution
- Teladoc Health, Inc
- MeMD
- HealthTap, Inc
- Vidyo, Inc
- PlushCare, Inc
- Zipnosis
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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